Indiana Nonprofit — Conduct Policies for Board Members play a crucial role in ensuring ethical and transparent operations within nonprofit organizations, including how board members conduct themselves. These policies are designed to outline standards of behavior, responsibilities, and expectations that all board members must adhere to in their role. By implementing these policies, nonprofits can enhance accountability, professionalism, and maintain public trust. Below are some key components that are typically included in Indiana Nonprofit — Conduct Policies for Board Members: 1. Code of Ethics: This section establishes a set of guiding principles for board members, emphasizing integrity, honesty, and ethical behavior. It outlines expectations in areas such as conflicts of interest, confidentiality, and lawful practices. 2. Fiduciary Duties: This component focuses on the fiduciary responsibilities that board members have towards the organization, such as acting in the best interest of the nonprofit and avoiding personal financial gain or self-dealing. 3. Attendance and Commitment: Board members are expected to attend board meetings regularly and actively participate in committee work and special events. This section specifies the required level of engagement and the consequences for consistent absenteeism or lack of participation. 4. Confidentiality: To safeguard sensitive information, this policy outlines the importance of maintaining confidentiality regarding organizational matters, including financial records, strategic plans, and donor information. Board members may be required to sign a confidentiality agreement. 5. Conflict of Interest: This section addresses the issue of conflicts of interest and provides guidelines for disclosure and management. Board members must disclose any potential conflicts and refrain from using their position for personal gain or benefiting individuals or organizations with which they have a relationship. 6. Fundraising and Donor Relations: This policy provides guidance on soliciting and accepting donations, maintaining transparency in financial transactions, and appropriately acknowledging donors. It may also establish ethical guidelines for the involvement of board members in fundraising activities. 7. Board Member Term Limits and Compensation: Some conduct policies may address term limits to encourage board turnover and fresh perspectives. Additionally, they may outline whether board members receive compensation or reimbursement for expenses incurred during their service. By implementing these Indiana Nonprofit — Conduct Policies, organizations can maintain a high standard of governance and ensure that board members act in the best interest of the nonprofit and its mission. It is essential for each nonprofit to tailor these policies to their specific needs and legal obligations, while also aligning with the organization's values and goals.
Indiana Nonprofit - Conduct Policies for Board Members
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As a board member you need to have a general knowledge and reasonable access to the organization's records including but not limited to the articles of incorporation, the original by-laws and any amended copies, 501c3 determination letter, tax records, bank records, audits, meeting minutes, etc.
Here are 10 common governance mistakes made by nonprofit boards: Failure to Understand Fiduciary Duties. ... Failure to Provide Effective Oversight. ... Deferring to a Founder. ... Failure to Stay in Your Lane. ... Failure to Adopt and Follow Procedures. ... Failure to Keep Good Records. ... Lack of Awareness of Laws Governing Nonprofits.
A code of conduct guides the behavior of your board members, and it serves as a set of principles to guide their decision-making and other activities. Your code of conduct policy ensures that your board members are accountable for the decisions and choices they make.
A Board Policy Manual organizes all current board policy statements in a convenient place for ready reference and regular updating. Some organizations have made their board policies available online through an intranet.
Hence, it is argued, boards can be helped greatly by focusing on four key areas: establishing vision, mission and values. setting strategy and structure. delegating to management. exercising accountability to shareholders and being responsible to relevant stakeholders.
Board members' listing and bios. Board members' terms. Board statement of responsibilities. Committee and task force job and descriptions. Policies pertaining to the board on conflicts of interest, insurance coverage, and travel/meeting expense reimbursements. Minutes from recent board meetings.
It should contain the board member job description, legal documents such as articles of incorporation and bylaws, financial information, the strategic plan and an overview of the organization's programs.
The only limitation for the size of a board of directors in Indiana is the requirement of a minimum of three members. The size of the board may exceed fifty members, depending on the size of the organization it is governing and the number of tasks set out before it.